Fox News "On the Record" - Transcript

Statement

Cantor Slams More Stimulus, Runaway Democrat Spending

"Do you want the private sector to invest the money to create jobs in the private sector or do you want Washington to tax the private sector to spend the money the way Congress feels it ought to be spent?"

House Republican Whip Eric Cantor
Fox News' "On The Record"
August 10, 2010
http://www.youtube.com/watch?v=4uiW0tGiMxE

On Democrats Raising Taxes On Job Creators:

"First of all, it doesn't pay for itself. There are alleged pay-fors in the bill, and the way they come up with the biggest is they try to impose a tax on job creators. You'll hear many proponents of the bill talk about the need to stop shipping jobs overseas. But what this tax does is it imposes an additional cost on to foreign based companies that have American facilities. That means jobs in America suffer."

On Speaker Pelosi's Priorities:

"What are we doing here? Why aren't we doing something to reduce the deficit, why aren't we doing something to help the job creators? Instead, we are coming back into town, spending $26 billion dollars to extend the stimulus bill, which by the Administration's own standards has failed."

On The Political Timing Of The Bill:

"One has to question the political motivation for identifying just one area of the public employee workforce versus another. … Again, the significant piece of the timing is prior to the election season in earnest which is usually Labor Day in most states and the reliance on many of those in the public employee union workforce to do what it is that perhaps the Democratic majority wants them to do in the election."

On The Impact Of Another Democrat Tax Increase:

"This is why the National Association of Manufacturers, the Chamber of Commerce, people who represent small and large businesses say, wait a minute, this is bad. These taxes are not something we should be doing right now if you want us to create jobs. And again it goes guess back to the point, we are still at 10 percent unemployment. It just begs the question about the priorities here. It demonstrates the difference between the two parties as to what we ought to be doing for the people who elect us."

On Prioritizing Spending:

"It comes down to the fact if you assume the money is going to be spent anyway, who do you want spending the money? Do you want the private sector to invest the money to create jobs in the private sector or do you want Washington to tax the private sector to spend the money way Congress feels it ought to be spent? And in this instance, Nancy Pelosi and the Democrats feel it ought to be spent to help the states and bail them out of their budget woes."

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